Mitsubishi UFJ Asset Management Co. Ltd. Increases Position in Akamai Technologies, Inc. (NASDAQ:AKAM)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Akamai Technologies, Inc. (NASDAQ:AKAM) by 5.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 238,140 shares of the technology infrastructure company’s stock after acquiring an additional 12,435 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of Akamai Technologies worth $22,280,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. National Pension Service increased its position in shares of Akamai Technologies by 595.3% during the 4th quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company’s stock valued at $30,504,000 after purchasing an additional 273,043 shares during the last quarter. Geode Capital Management LLC grew its position in Akamai Technologies by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after acquiring an additional 202,746 shares during the last quarter. Tredje AP fonden raised its stake in shares of Akamai Technologies by 580.4% during the fourth quarter. Tredje AP fonden now owns 169,777 shares of the technology infrastructure company’s stock worth $16,239,000 after acquiring an additional 144,823 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Akamai Technologies by 20.0% in the 3rd quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company’s stock worth $84,511,000 after acquiring an additional 139,760 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Akamai Technologies by 6.9% in the 4th quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company’s stock valued at $205,743,000 after purchasing an additional 138,380 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Wall Street Analyst Weigh In

AKAM has been the subject of several recent research reports. Scotiabank lowered their price target on shares of Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating for the company in a research note on Friday, February 21st. UBS Group began coverage on Akamai Technologies in a research note on Monday, December 16th. They issued a “neutral” rating and a $110.00 target price for the company. Raymond James reduced their price target on Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. Citigroup lowered their price objective on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. cut their target price on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Akamai Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.55.

Akamai Technologies Price Performance

Shares of AKAM stock opened at $80.05 on Monday. The business’s fifty day moving average is $89.69 and its 200 day moving average is $94.68. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The stock has a market cap of $12.03 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 2.74 and a beta of 0.68. Akamai Technologies, Inc. has a twelve month low of $75.50 and a twelve month high of $109.98.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Research analysts expect that Akamai Technologies, Inc. will post 4.6 EPS for the current fiscal year.

Insider Buying and Selling

In other Akamai Technologies news, CEO F Thomson Leighton acquired 37,670 shares of Akamai Technologies stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $79.58 per share, for a total transaction of $2,997,778.60. Following the acquisition, the chief executive officer now owns 137,342 shares of the company’s stock, valued at $10,929,676.36. This represents a 37.79 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the transaction, the executive vice president now owns 23,104 shares in the company, valued at $2,115,633.28. This represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,394 shares of company stock worth $3,019,323 in the last three months. Insiders own 1.80% of the company’s stock.

Akamai Technologies Profile

Akamai Technologies, Inc provides cloud computing, security, and content delivery services in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.